1 00:00:00,080 --> 00:00:02,480 Speaker 1: Hi, this is new due to the virus. I'm recording 2 00:00:02,520 --> 00:00:05,440 Speaker 1: from home, so you may notice a difference in audio 3 00:00:05,559 --> 00:00:13,280 Speaker 1: quality on this episode of News World. Small businesses, family 4 00:00:13,320 --> 00:00:17,440 Speaker 1: owned businesses, and restaurants are arguably the hardest hit by 5 00:00:17,480 --> 00:00:21,639 Speaker 1: the pandemic shutdowns. Many have struggled to survive. Many have 6 00:00:21,640 --> 00:00:24,440 Speaker 1: had to lay off employees. If they haven't closed their 7 00:00:24,440 --> 00:00:27,400 Speaker 1: doors yet, the next six to nine months will be 8 00:00:27,400 --> 00:00:30,680 Speaker 1: a real challenge. There is some help on the way. 9 00:00:30,960 --> 00:00:34,640 Speaker 1: The US Small Business Administration has released a second round 10 00:00:35,000 --> 00:00:39,640 Speaker 1: of the Paycheck Protection Program, a forgivable loan program designed 11 00:00:39,680 --> 00:00:43,600 Speaker 1: to financially assist small businesses with money to stay afloat. 12 00:00:44,200 --> 00:00:48,839 Speaker 1: Part two of the Paycheck Protection Program opened on January fifteen, 13 00:00:49,240 --> 00:00:53,720 Speaker 1: twenty twenty one. There is no doubt America's main streets 14 00:00:53,920 --> 00:00:57,560 Speaker 1: will be affected by the pandemic shutdowns for years to come. 15 00:00:58,280 --> 00:01:01,000 Speaker 1: That's why I wanted to discuss the future of small 16 00:01:01,000 --> 00:01:05,479 Speaker 1: business and the legislative plans to restore our economy with 17 00:01:05,520 --> 00:01:18,880 Speaker 1: our guest, Elaine Parker, President of the Job Creators Network Foundation. Elaine, 18 00:01:18,920 --> 00:01:21,760 Speaker 1: I really want to thank you for joining me. It's 19 00:01:21,800 --> 00:01:24,280 Speaker 1: great to have you back on Nuts World and frankly, 20 00:01:24,319 --> 00:01:27,400 Speaker 1: the Times we work together on small business projects. I'm 21 00:01:27,440 --> 00:01:30,000 Speaker 1: always delighted because of the work you do at the 22 00:01:30,080 --> 00:01:33,880 Speaker 1: Job Creators Network Foundation. I remember we talked back in 23 00:01:33,959 --> 00:01:37,800 Speaker 1: April twenty twenty when the First Cares Act offered aid 24 00:01:37,800 --> 00:01:41,120 Speaker 1: to small businesses in the form of the first Paycheck 25 00:01:41,200 --> 00:01:45,440 Speaker 1: Protection Program. I know that you and the Job Creators 26 00:01:45,480 --> 00:01:50,120 Speaker 1: Network were deeply involved in making that program practical and 27 00:01:50,240 --> 00:01:52,560 Speaker 1: getting into a point where it could be implemented by 28 00:01:52,600 --> 00:01:56,320 Speaker 1: small businesses. You know, it's hard to believe that was 29 00:01:56,360 --> 00:01:59,320 Speaker 1: almost a year ago, and we really thought we'd get 30 00:01:59,320 --> 00:02:03,040 Speaker 1: through the lockdown and this virus a lot more quickly 31 00:02:03,040 --> 00:02:06,520 Speaker 1: than we have. So let me just start with the 32 00:02:06,560 --> 00:02:10,800 Speaker 1: big question, how are small businesses in America doing? And 33 00:02:10,919 --> 00:02:14,360 Speaker 1: what types of businesses are being affected the most by 34 00:02:14,400 --> 00:02:17,680 Speaker 1: the virus? Lockdomes Well, thanks for having me nude. I 35 00:02:17,720 --> 00:02:20,720 Speaker 1: really appreciate the opportunity to talk about small business and 36 00:02:20,760 --> 00:02:24,040 Speaker 1: the impact that they have had over the course the 37 00:02:24,120 --> 00:02:28,720 Speaker 1: last year, particularly with the pandemic induced recession. Small business 38 00:02:28,760 --> 00:02:33,360 Speaker 1: had really been decimated by this pandemic. They were essentially 39 00:02:33,400 --> 00:02:36,760 Speaker 1: on the front end of all of the prosperity that 40 00:02:36,800 --> 00:02:38,840 Speaker 1: we had for the first three years of the Trump 41 00:02:38,840 --> 00:02:42,760 Speaker 1: administration and drove this economy to levels that we hadn't 42 00:02:42,800 --> 00:02:46,320 Speaker 1: seen because of the policies in place. But they were 43 00:02:46,360 --> 00:02:48,720 Speaker 1: also on the front end of the pandemic. And as 44 00:02:49,080 --> 00:02:54,359 Speaker 1: states and local governments began shutting down and deciding who 45 00:02:54,440 --> 00:02:58,640 Speaker 1: was essential on who wasn't, we saw small businesses suffering 46 00:02:59,200 --> 00:03:03,480 Speaker 1: the most, and we saw unemployment rates reach almost fifteen 47 00:03:03,560 --> 00:03:06,400 Speaker 1: percent at the height of the pandemic and the shutdown. 48 00:03:06,720 --> 00:03:09,760 Speaker 1: Well over twenty million jobs were lost at that point, 49 00:03:10,280 --> 00:03:12,880 Speaker 1: and just in that first month or two of the shutdown. 50 00:03:13,760 --> 00:03:16,480 Speaker 1: One of the areas, and interesting is the timing of 51 00:03:16,480 --> 00:03:20,399 Speaker 1: this conversation with you today, that has been hit very, 52 00:03:20,520 --> 00:03:23,400 Speaker 1: very hard is the hotel and restaurant what we call 53 00:03:23,440 --> 00:03:27,120 Speaker 1: the leisure industries. And I had a great conversation with 54 00:03:27,320 --> 00:03:30,280 Speaker 1: Chip Rogers yesterday. He's the president and CEO of the 55 00:03:30,320 --> 00:03:34,480 Speaker 1: American Hotel Lodging Association, who was talking about the hotel 56 00:03:34,520 --> 00:03:38,120 Speaker 1: industry specifically and how they've been impacted. And when we 57 00:03:38,120 --> 00:03:40,080 Speaker 1: think of hotels, we think of the big names, the 58 00:03:40,120 --> 00:03:42,920 Speaker 1: Mariots and Hiltons, But what people don't realize is many 59 00:03:42,960 --> 00:03:45,880 Speaker 1: of those are franchised and independently owned, so they are 60 00:03:45,920 --> 00:03:49,480 Speaker 1: small businesses. Too, and what he told me was staggering. 61 00:03:49,600 --> 00:03:52,520 Speaker 1: He said it was the worst year ever for the 62 00:03:52,560 --> 00:03:56,560 Speaker 1: hotel industry, even worse than the Great Depression. That they 63 00:03:56,640 --> 00:04:00,760 Speaker 1: need at least fifty five percent minimum occupancy just to 64 00:04:00,800 --> 00:04:03,560 Speaker 1: break even, and they were running an average of about 65 00:04:03,560 --> 00:04:06,520 Speaker 1: forty two percent last year. So they don't expect to 66 00:04:06,520 --> 00:04:10,880 Speaker 1: see any recovery in that industry probably until twenty twenty 67 00:04:10,880 --> 00:04:15,520 Speaker 1: three or twenty twenty four. Restaurants have been hit super hard. 68 00:04:16,080 --> 00:04:18,520 Speaker 1: We hear a lot about the restaurant industry. The National 69 00:04:18,560 --> 00:04:22,680 Speaker 1: Restaurant Association estimates that about one in six restaurants nationwide 70 00:04:22,720 --> 00:04:26,000 Speaker 1: have closed and permanently shut down, never to come back. 71 00:04:26,040 --> 00:04:29,000 Speaker 1: That's about one hundred and ten thousand restaurants just gone. 72 00:04:29,640 --> 00:04:33,320 Speaker 1: As you know, in cities like Washington, DC, where people 73 00:04:33,320 --> 00:04:36,400 Speaker 1: are no longer coming into the city to work, all 74 00:04:36,440 --> 00:04:39,719 Speaker 1: of those restaurants and all of those small businesses they think, 75 00:04:39,720 --> 00:04:43,440 Speaker 1: if you're dry cleaners, they're all closing down because they 76 00:04:43,440 --> 00:04:46,599 Speaker 1: were kept alive by the fact that people were in 77 00:04:46,680 --> 00:04:49,800 Speaker 1: office buildings and going to work, and that's not happening 78 00:04:49,839 --> 00:04:52,560 Speaker 1: now with the pandemic and really just the change in 79 00:04:52,720 --> 00:04:57,120 Speaker 1: how we are conducting business. So when you look at 80 00:04:57,120 --> 00:05:02,120 Speaker 1: all of that, what's your sense of the trajectory for recovery. 81 00:05:03,080 --> 00:05:07,600 Speaker 1: So I think that policies like the Paycheck Protection Program, 82 00:05:07,720 --> 00:05:12,280 Speaker 1: which was put in place last March under the Trump administration. 83 00:05:12,760 --> 00:05:15,200 Speaker 1: You know, we talked about it last year a lifeline. 84 00:05:15,240 --> 00:05:20,760 Speaker 1: It provided over five million loans to companies forgivable loans 85 00:05:20,920 --> 00:05:24,159 Speaker 1: and saved about fifty one million jobs in the latter 86 00:05:24,240 --> 00:05:27,159 Speaker 1: part of twenty twenty. Though, in the fall we started 87 00:05:27,200 --> 00:05:31,520 Speaker 1: seeing shutdowns against We saw states run by democratic governors 88 00:05:31,520 --> 00:05:36,000 Speaker 1: start to shut down and enforce firy draconian measures on 89 00:05:36,040 --> 00:05:39,880 Speaker 1: their small businesses to keep them closed down. In addition, 90 00:05:39,920 --> 00:05:42,240 Speaker 1: we saw a lot of violence through the summer and 91 00:05:42,600 --> 00:05:46,640 Speaker 1: people literally losing their businesses through looting and violence, and 92 00:05:46,839 --> 00:05:52,920 Speaker 1: cities burned down, which further exasperated the problem for small businesses. Fortunately, 93 00:05:53,279 --> 00:05:57,400 Speaker 1: the Paycheck Protection Program was finally renewed with the passage 94 00:05:57,480 --> 00:06:00,480 Speaker 1: of the nine hundred billion dollars bill that has passed 95 00:06:00,480 --> 00:06:03,839 Speaker 1: in late December. That will continue to provide a lifeline. 96 00:06:04,320 --> 00:06:07,640 Speaker 1: But I will tell you in all honesty, this money 97 00:06:07,960 --> 00:06:11,080 Speaker 1: will never be enough. There will never be enough money 98 00:06:11,160 --> 00:06:14,440 Speaker 1: to keep all of these small businesses afloat. Then keep 99 00:06:14,480 --> 00:06:17,560 Speaker 1: all of these jobs in place. The government simply can't 100 00:06:17,640 --> 00:06:21,560 Speaker 1: support the entire economy like that. What we need to 101 00:06:21,600 --> 00:06:25,599 Speaker 1: do is get our society open and get these small 102 00:06:25,640 --> 00:06:28,440 Speaker 1: businesses open. That is going to be the best stimulus. 103 00:06:28,520 --> 00:06:31,000 Speaker 1: That is going to be the best jolt to our economy, 104 00:06:31,279 --> 00:06:35,080 Speaker 1: and that is going to help bring our small businesses back. Unfortunately, 105 00:06:35,120 --> 00:06:38,000 Speaker 1: the ones that are gone, they're gone. They're not coming back. 106 00:06:38,440 --> 00:06:40,520 Speaker 1: But we can get the society open and we can 107 00:06:40,560 --> 00:06:42,680 Speaker 1: do it safely. That is going to be the best 108 00:06:42,720 --> 00:06:46,720 Speaker 1: stimulus As that begins to happen. What's your message to 109 00:06:46,760 --> 00:06:50,160 Speaker 1: all of these folks who invested their lifetime and their 110 00:06:50,240 --> 00:06:53,760 Speaker 1: local small business, their restaurant there directly and or whatever, 111 00:06:54,400 --> 00:06:56,800 Speaker 1: and now it's gone. I mean, how do they recover? 112 00:06:57,480 --> 00:07:00,559 Speaker 1: It's horrible to think of how many businesses being lost. 113 00:07:00,600 --> 00:07:03,120 Speaker 1: I've talked to many people over the course of the 114 00:07:03,200 --> 00:07:07,320 Speaker 1: last year. Everybody's impacted by small business. You either own one, 115 00:07:07,760 --> 00:07:11,120 Speaker 1: you shop at one, or you know somebody who owns one. 116 00:07:11,160 --> 00:07:13,480 Speaker 1: A family member or a friend or a neighbor owns one. 117 00:07:13,520 --> 00:07:16,320 Speaker 1: I mean, small business is part of our community. They 118 00:07:16,320 --> 00:07:19,680 Speaker 1: are the ones who run for county commissioner or mayors 119 00:07:19,760 --> 00:07:23,280 Speaker 1: of our cities, or they support our little leagues. I mean, 120 00:07:23,320 --> 00:07:26,160 Speaker 1: they're embedded as part of our community, and there are 121 00:07:26,200 --> 00:07:29,400 Speaker 1: neighbors and our friends, and so we've got to focus 122 00:07:29,520 --> 00:07:33,280 Speaker 1: on the legislative measures that are focused and temporary and 123 00:07:33,360 --> 00:07:38,320 Speaker 1: targeted to small business and help them reinvigorate, provide maybe 124 00:07:38,320 --> 00:07:42,400 Speaker 1: small business loans that help them start businesses again, and 125 00:07:42,560 --> 00:07:45,360 Speaker 1: those kinds of things, because they are the drivers of 126 00:07:45,400 --> 00:07:49,360 Speaker 1: this economy. They employ half our workforce pre pandemic. Of course, 127 00:07:49,840 --> 00:07:53,440 Speaker 1: they create two thirds of all new net jobs for 128 00:07:53,560 --> 00:07:57,240 Speaker 1: the big businesses. While they have done fantastic during this pandemic, 129 00:07:57,280 --> 00:07:59,960 Speaker 1: and we've seen record arneys come out as many of them, 130 00:08:00,760 --> 00:08:02,800 Speaker 1: they will not drive this economy in the way that 131 00:08:02,880 --> 00:08:05,720 Speaker 1: small businesses do and entrepreneurs. So we definitely need to 132 00:08:05,720 --> 00:08:08,320 Speaker 1: have a focus on the small business community going forward 133 00:08:08,560 --> 00:08:11,480 Speaker 1: and helping revive that area. You know, in the middle 134 00:08:11,520 --> 00:08:14,640 Speaker 1: of this level of pain, the Biden administration is talking 135 00:08:14,640 --> 00:08:18,640 Speaker 1: about a fifteen federal minimum wage for the whole country. 136 00:08:19,040 --> 00:08:21,880 Speaker 1: What would the effect of that be. Well, the fifteen 137 00:08:21,880 --> 00:08:25,480 Speaker 1: dollars hour minimum wage we've certainly spoken out against in 138 00:08:25,520 --> 00:08:28,200 Speaker 1: a big way. It is probably one of the ugliest 139 00:08:28,200 --> 00:08:31,520 Speaker 1: part of this proposal. And he's hidden it inside of 140 00:08:31,560 --> 00:08:35,040 Speaker 1: the new COVID package. And of course it has nothing 141 00:08:35,040 --> 00:08:38,560 Speaker 1: to do with COVID relief, but doubling the entry level 142 00:08:38,600 --> 00:08:41,080 Speaker 1: labor cost is just going to further hurt all of 143 00:08:41,120 --> 00:08:43,800 Speaker 1: these small businesses. They're struggling to get up back on 144 00:08:43,840 --> 00:08:47,800 Speaker 1: their feet. The CBO, I'm sure you know, in twenty nineteen, 145 00:08:48,440 --> 00:08:50,280 Speaker 1: came out with a report and said that a fifteen 146 00:08:50,280 --> 00:08:53,600 Speaker 1: dollars hour minimum wage would cost the country one point 147 00:08:53,600 --> 00:08:56,080 Speaker 1: three million jobs. And this will just come at the 148 00:08:56,120 --> 00:08:59,720 Speaker 1: worst possible time, as our labor market is already struggling 149 00:08:59,720 --> 00:09:02,040 Speaker 1: and we're trying to get people back to work. The 150 00:09:02,040 --> 00:09:04,720 Speaker 1: report went on to say that women and workers without 151 00:09:04,760 --> 00:09:07,360 Speaker 1: a high school decree and part time employees will bear 152 00:09:07,360 --> 00:09:09,360 Speaker 1: the brunt of the job loss. And I can tell 153 00:09:09,400 --> 00:09:12,960 Speaker 1: you personally five to seventeen year old and she is 154 00:09:13,520 --> 00:09:15,920 Speaker 1: looking for that part time job and trying to find 155 00:09:15,920 --> 00:09:17,960 Speaker 1: a part time job, but she's not only struggling with 156 00:09:17,960 --> 00:09:20,520 Speaker 1: the pandemic induced recession and that a lot of people 157 00:09:20,520 --> 00:09:24,000 Speaker 1: are hiring. But as you see minimum wages start to 158 00:09:24,080 --> 00:09:27,280 Speaker 1: increase in states across the country, because that's why you're 159 00:09:27,320 --> 00:09:30,000 Speaker 1: seeing it happen is at the state level too, to 160 00:09:30,000 --> 00:09:32,120 Speaker 1: try and hire a seventeen year old at fifteen dollars 161 00:09:32,120 --> 00:09:34,000 Speaker 1: an hour. And that's not where employers are going to 162 00:09:34,080 --> 00:09:35,840 Speaker 1: look to. They're going to look to older and more 163 00:09:35,880 --> 00:09:38,720 Speaker 1: experienced workers that they don't have to train and have 164 00:09:38,960 --> 00:09:42,240 Speaker 1: skills already. So for somebody like my daughter, she's not 165 00:09:42,240 --> 00:09:44,680 Speaker 1: going to have the opportunity to learn those skills and 166 00:09:44,800 --> 00:09:47,200 Speaker 1: get that first entry level job, which is really what 167 00:09:47,320 --> 00:09:51,319 Speaker 1: minimum wage jobs are for, is those entry level jobs. Yeah, 168 00:09:51,360 --> 00:09:54,400 Speaker 1: I mean it's interesting. You could have a whole generation 169 00:09:54,520 --> 00:09:57,960 Speaker 1: coming out it never had the experience of going to work, 170 00:09:58,720 --> 00:10:02,680 Speaker 1: having to be acturate and dealing with customers, all the 171 00:10:02,720 --> 00:10:06,720 Speaker 1: different things that happened at your first job in school. 172 00:10:07,160 --> 00:10:09,400 Speaker 1: You might say that seventy or seventy five percent is 173 00:10:09,440 --> 00:10:12,080 Speaker 1: a city, but if you are actually dealing directly with 174 00:10:12,120 --> 00:10:16,000 Speaker 1: a customer, one hundred percent is the minimum accuracy. And 175 00:10:16,120 --> 00:10:18,760 Speaker 1: that's the lesson. People only learn by doing, they don't 176 00:10:18,840 --> 00:10:21,320 Speaker 1: learn it any other way. And so it really worries me. 177 00:10:21,720 --> 00:10:26,040 Speaker 1: If the Congress and the President really wanted to maximize 178 00:10:26,400 --> 00:10:29,000 Speaker 1: the recovery of small business, what would they do. What 179 00:10:29,080 --> 00:10:33,120 Speaker 1: are the key steps that would really bring back small business? Well, 180 00:10:33,400 --> 00:10:35,640 Speaker 1: the first thing would be is not to raise the 181 00:10:35,720 --> 00:10:40,560 Speaker 1: taxes on small businesses right now. President Biden, throughout his 182 00:10:40,800 --> 00:10:44,520 Speaker 1: campaign has promised to roll back the Tax Cuts and 183 00:10:44,600 --> 00:10:49,400 Speaker 1: Jobs Act, which is wanted the signature legislative accomplishments of 184 00:10:49,440 --> 00:10:54,600 Speaker 1: the Trump administration which really ignited this economy, and I 185 00:10:54,640 --> 00:10:57,760 Speaker 1: believe President Trumps to call a rocket fuel for our economy, 186 00:10:58,240 --> 00:11:02,560 Speaker 1: particularly for small businesses. Created a twenty tax cut for 187 00:11:02,840 --> 00:11:06,280 Speaker 1: small businesses that were structured as as corporations and they 188 00:11:06,360 --> 00:11:10,400 Speaker 1: could take that twenty percent deduction. There was immediate expensing 189 00:11:10,679 --> 00:11:14,680 Speaker 1: for small businesses that made it capital investments, which was 190 00:11:14,679 --> 00:11:18,079 Speaker 1: a game changer for them and allowed them to buy 191 00:11:18,120 --> 00:11:21,200 Speaker 1: a large piece of equipment immediately expense that versus over 192 00:11:21,240 --> 00:11:23,480 Speaker 1: a long period of time. And of course that was 193 00:11:23,520 --> 00:11:27,920 Speaker 1: creating jobs at the same time. And so President Biden 194 00:11:28,080 --> 00:11:31,080 Speaker 1: has promised to roll back those tax cuts. And while 195 00:11:31,120 --> 00:11:34,400 Speaker 1: he tries to make the distinction that it will only 196 00:11:34,440 --> 00:11:37,600 Speaker 1: hit people who make over four hundred thousand dollars, that 197 00:11:37,800 --> 00:11:41,280 Speaker 1: is right in there where the job creators are, where 198 00:11:41,320 --> 00:11:44,800 Speaker 1: small business owners are from an income perspective, and so 199 00:11:45,040 --> 00:11:47,559 Speaker 1: he's kidding himself if he thinks he can hurt job 200 00:11:47,600 --> 00:11:50,880 Speaker 1: creators and not hurt the employees that work for them. 201 00:11:51,200 --> 00:11:53,600 Speaker 1: So it starts with not rolling back the tax cuts 202 00:11:53,600 --> 00:11:56,920 Speaker 1: on small businesses trying to recover from this pandemic. It 203 00:11:56,960 --> 00:12:01,320 Speaker 1: also starts with not inflicting mandates and regulations back on 204 00:12:01,400 --> 00:12:05,040 Speaker 1: small business owners. The Trump administration was very aggressive and 205 00:12:05,080 --> 00:12:09,680 Speaker 1: it's deregulatory movements. When President Trump was in office, he 206 00:12:09,840 --> 00:12:13,280 Speaker 1: had promised for every one new regulation he would remove 207 00:12:13,400 --> 00:12:16,600 Speaker 1: to the latest number I've seen is that for every 208 00:12:16,600 --> 00:12:20,520 Speaker 1: one new regulations, if they implemented, they actually averaged about 209 00:12:20,559 --> 00:12:26,200 Speaker 1: eight With that kind of regulatory relief for small businesses, again, 210 00:12:26,240 --> 00:12:29,520 Speaker 1: it was like rocket fuel for them and unleashing the 211 00:12:29,559 --> 00:12:33,160 Speaker 1: power of small business. President Biden has indicated, as you 212 00:12:33,200 --> 00:12:36,319 Speaker 1: mentioned the fifteen dollars an hour minimum age, He's talked 213 00:12:36,360 --> 00:12:40,160 Speaker 1: about doubling down on Obamacare and strengthening it. You know, 214 00:12:40,200 --> 00:12:43,040 Speaker 1: Obamacare had mandates in it that were so costly for 215 00:12:43,120 --> 00:12:46,679 Speaker 1: small businesses that they had to drop coverage because of 216 00:12:46,720 --> 00:12:51,280 Speaker 1: storing premiums for their employees. Those are all barriers and 217 00:12:51,640 --> 00:12:54,680 Speaker 1: issues that will make it difficult for small businesses to 218 00:12:54,760 --> 00:13:14,480 Speaker 1: continue recovering. When you start thinking about how this economy works, 219 00:13:15,120 --> 00:13:18,640 Speaker 1: if you cut off the job creators. You could easily 220 00:13:18,679 --> 00:13:22,400 Speaker 1: cut off a generation of jobs and lead to a 221 00:13:22,480 --> 00:13:26,680 Speaker 1: generation of people who are by definition pass even dependent 222 00:13:27,000 --> 00:13:31,120 Speaker 1: because they've never had any experience of going to work. 223 00:13:31,840 --> 00:13:34,120 Speaker 1: I mean, isn't this a major concern just in terms 224 00:13:34,160 --> 00:13:37,800 Speaker 1: of the society. Absolutely. I mean, you've mentioned the whole 225 00:13:37,840 --> 00:13:41,319 Speaker 1: lost generation of kids you never get that first job 226 00:13:41,400 --> 00:13:45,560 Speaker 1: because of these increasing minimum wages. When you think about 227 00:13:45,880 --> 00:13:48,440 Speaker 1: how do we reach people, let's just look at what 228 00:13:48,480 --> 00:13:52,840 Speaker 1: the population is of people who are in minimum wage 229 00:13:52,960 --> 00:13:56,800 Speaker 1: jobs and trying to support a family of four. It's 230 00:13:56,840 --> 00:14:00,280 Speaker 1: a very small population in that category. It's it's got 231 00:14:00,320 --> 00:14:04,480 Speaker 1: about eighty million hourly workers in this country. There's probably 232 00:14:04,480 --> 00:14:06,960 Speaker 1: about two hundred and fifty thousand people in this country 233 00:14:07,000 --> 00:14:10,199 Speaker 1: that fall into that category that are trying to survive 234 00:14:10,240 --> 00:14:13,600 Speaker 1: on a minimum wage job and support a family. And 235 00:14:13,720 --> 00:14:18,400 Speaker 1: we can actually target those folks through the tax system 236 00:14:18,600 --> 00:14:22,120 Speaker 1: through the earned Income tax Credit, which right now exists. 237 00:14:22,520 --> 00:14:27,000 Speaker 1: It's a very successful program, and it targets low income 238 00:14:27,080 --> 00:14:30,520 Speaker 1: people through the tax code with tax credits to help 239 00:14:30,560 --> 00:14:33,800 Speaker 1: supplement their incomes. They'd have to make some adjustments to it, 240 00:14:33,840 --> 00:14:36,880 Speaker 1: so it became more of a monthly supplement versus an 241 00:14:36,920 --> 00:14:40,240 Speaker 1: annual supplement at tax time. But it could be done. 242 00:14:40,320 --> 00:14:43,240 Speaker 1: And the system exists, and it has pulled millions and 243 00:14:43,400 --> 00:14:46,480 Speaker 1: millions of people out of poverty, and we can target 244 00:14:46,520 --> 00:14:50,120 Speaker 1: those low income people and help them without them losing 245 00:14:50,160 --> 00:14:53,480 Speaker 1: benefits and allowing them to get to work and learn 246 00:14:53,560 --> 00:14:56,840 Speaker 1: new skills and move up the income ladder. Well, it's 247 00:14:56,880 --> 00:14:59,360 Speaker 1: interesting to me that we live in such a different 248 00:14:59,360 --> 00:15:04,960 Speaker 1: world today. One of the key ridges has Business Protection Program. 249 00:15:05,080 --> 00:15:08,080 Speaker 1: Now in round two, what are the businesses that are 250 00:15:08,080 --> 00:15:10,920 Speaker 1: going to be eligible for that? So in round two, 251 00:15:11,440 --> 00:15:15,960 Speaker 1: the small businesses who did not receive funding during the 252 00:15:16,000 --> 00:15:20,880 Speaker 1: first round actually have another opportunity to apply. So if 253 00:15:20,920 --> 00:15:24,120 Speaker 1: you didn't ever apply last year for PPP, you can 254 00:15:24,160 --> 00:15:28,120 Speaker 1: still apply. And this applies to small businesses that meet 255 00:15:28,240 --> 00:15:32,560 Speaker 1: the SBA size requirements based on their industry are also eligible. 256 00:15:32,760 --> 00:15:37,520 Speaker 1: Food service and hotel businesses with more than one physical 257 00:15:37,600 --> 00:15:41,840 Speaker 1: location and if they employ less than five hundred people 258 00:15:41,920 --> 00:15:46,000 Speaker 1: per location, they can also apply. Small businesses that did 259 00:15:46,120 --> 00:15:49,520 Speaker 1: receive funds in the first round but have used all 260 00:15:49,560 --> 00:15:52,720 Speaker 1: of that money and are still significantly impacted by the 261 00:15:52,760 --> 00:15:56,440 Speaker 1: pandemic are also eligible to apply again, so they can 262 00:15:56,480 --> 00:15:58,720 Speaker 1: do a second draw as long as they have used 263 00:15:58,760 --> 00:16:01,480 Speaker 1: all of the money. They don't have to have already 264 00:16:01,520 --> 00:16:05,600 Speaker 1: been forgiven for the first loan to apply, but they 265 00:16:05,720 --> 00:16:09,320 Speaker 1: must demonstrate a twenty five percent loss in revenue during 266 00:16:09,360 --> 00:16:12,120 Speaker 1: at least one quarter of twenty twenty compared to the 267 00:16:12,160 --> 00:16:15,400 Speaker 1: same period in twenty nineteen. But the difference here is 268 00:16:15,480 --> 00:16:18,960 Speaker 1: these businesses doing a second draw, they must have less 269 00:16:18,960 --> 00:16:22,880 Speaker 1: than three hundred employees per location. Do you have if 270 00:16:22,880 --> 00:16:26,560 Speaker 1: people go to job Creators Network, do you have all 271 00:16:26,600 --> 00:16:29,640 Speaker 1: of this material laid out? We do. We actually have 272 00:16:29,920 --> 00:16:33,600 Speaker 1: a great post on our website at job Creatorsnetwork dot 273 00:16:33,640 --> 00:16:36,680 Speaker 1: com that provides everything people need to know about the 274 00:16:36,720 --> 00:16:40,040 Speaker 1: second round of PPP funding. And the best place to 275 00:16:40,120 --> 00:16:43,520 Speaker 1: go if somebody is looking to apply is go to 276 00:16:43,560 --> 00:16:46,680 Speaker 1: their bank. They already have an account there, their banks 277 00:16:46,760 --> 00:16:49,840 Speaker 1: know them, and they can move quickly through the process. 278 00:16:50,480 --> 00:16:53,840 Speaker 1: The maximum funds again are not to exceed two and 279 00:16:53,840 --> 00:16:56,880 Speaker 1: a half times their monthly payroll costs. There is a 280 00:16:56,880 --> 00:17:00,560 Speaker 1: slight difference here for a food service industry, and they 281 00:17:00,600 --> 00:17:02,800 Speaker 1: have increased it to three and a half times their 282 00:17:02,840 --> 00:17:05,840 Speaker 1: monthly payroll costs, so there's some additional help there for 283 00:17:05,920 --> 00:17:10,760 Speaker 1: the restaurant industry as well. These second rounds loans forgivable. 284 00:17:11,400 --> 00:17:15,320 Speaker 1: These are forgivable loans exactly like the first loans as well, 285 00:17:15,880 --> 00:17:19,160 Speaker 1: as long as they use sixty percent of the funding 286 00:17:19,200 --> 00:17:22,720 Speaker 1: to cover payroll expenses to ensure that their workers are 287 00:17:22,720 --> 00:17:25,840 Speaker 1: still employed, and then the other forty percent can be 288 00:17:26,000 --> 00:17:29,720 Speaker 1: used for costs like rent and mortgage and utility payments. 289 00:17:30,200 --> 00:17:34,480 Speaker 1: If you fall below that sixty percent threshold on using 290 00:17:34,480 --> 00:17:37,840 Speaker 1: the money for payroll costs, there is a partial loan 291 00:17:37,920 --> 00:17:41,679 Speaker 1: forgiveness that is still available if the businesses don't use 292 00:17:41,720 --> 00:17:44,040 Speaker 1: the funds it's directed, they will have to pay back 293 00:17:44,119 --> 00:17:47,000 Speaker 1: the loan in full, and it's comes in at a 294 00:17:47,080 --> 00:17:50,000 Speaker 1: one percent interest rate, so still a low interest loan. 295 00:17:50,119 --> 00:17:53,960 Speaker 1: But let's worth following provisions that you can get it forgivable. Yeah, 296 00:17:54,000 --> 00:17:56,399 Speaker 1: I mean, it's sort of an amazingly big program. The 297 00:17:56,480 --> 00:18:00,399 Speaker 1: original paper check protection program is already up to early 298 00:18:00,480 --> 00:18:05,880 Speaker 1: January approved four hundred thousand loans for thirty five billion dollars, 299 00:18:06,000 --> 00:18:09,440 Speaker 1: so it's not a small project. You know. This program 300 00:18:10,000 --> 00:18:13,720 Speaker 1: is absolutely one of the best programs I have ever seen. 301 00:18:14,359 --> 00:18:17,280 Speaker 1: I myself, I am not a huge fan of government programs, 302 00:18:17,600 --> 00:18:21,000 Speaker 1: but I think this has been incredibly successful. It's been 303 00:18:21,040 --> 00:18:25,840 Speaker 1: implemented incredibly well. While there's bugs to work out in 304 00:18:25,920 --> 00:18:29,760 Speaker 1: every system you're talking about, the total program to date 305 00:18:30,000 --> 00:18:33,280 Speaker 1: is over eight hundred billion dollars has been funded into 306 00:18:33,359 --> 00:18:36,240 Speaker 1: it since last March when they first started it, and 307 00:18:36,720 --> 00:18:39,200 Speaker 1: an incredible amount of jobs have been saved, over fifty 308 00:18:39,200 --> 00:18:41,520 Speaker 1: one million. As a result, we'd have been in a 309 00:18:41,600 --> 00:18:45,960 Speaker 1: much deeper frankly, probably a depression without this kind of 310 00:18:46,119 --> 00:18:50,040 Speaker 1: ridging capability. Absolutely, I mean, it's just incredible, and one 311 00:18:50,080 --> 00:18:53,159 Speaker 1: of the best things that they did in implementing this 312 00:18:53,280 --> 00:18:56,119 Speaker 1: program was to take it down at the local level 313 00:18:56,280 --> 00:19:00,679 Speaker 1: and have banks instituting these loans and doing the approval processes. 314 00:19:01,000 --> 00:19:04,000 Speaker 1: If they had kept it with the Small Business Administration, 315 00:19:04,440 --> 00:19:07,520 Speaker 1: they would have never been able to get these loans 316 00:19:07,600 --> 00:19:10,000 Speaker 1: updoors fast as they did. The speed by which it 317 00:19:10,080 --> 00:19:13,119 Speaker 1: was done by any standard was fast, but by the 318 00:19:13,200 --> 00:19:20,240 Speaker 1: US government standards was lightning fast. Wouldn't they national debt 319 00:19:20,720 --> 00:19:24,640 Speaker 1: have been even bigger had we actually allowed all these 320 00:19:24,680 --> 00:19:27,240 Speaker 1: businesses to collapse. I mean, you think about how deep 321 00:19:27,240 --> 00:19:30,600 Speaker 1: the depression could have gone. I think the Trump administration's 322 00:19:30,640 --> 00:19:33,320 Speaker 1: response in the spring and the way in which they 323 00:19:33,320 --> 00:19:37,000 Speaker 1: tried to approach us really saved us from an enormously 324 00:19:37,080 --> 00:19:42,880 Speaker 1: bad situation. I mean that cannot be understated. I mean 325 00:19:42,880 --> 00:19:46,919 Speaker 1: that is absolutely true. The dire situation that we were facing. 326 00:19:47,200 --> 00:19:50,560 Speaker 1: I think we really were teetering on a depression. Providing 327 00:19:50,560 --> 00:19:55,159 Speaker 1: these funds, keeping employees connected to their place of employment 328 00:19:55,600 --> 00:19:58,560 Speaker 1: was one of the best news that was made for 329 00:19:58,680 --> 00:20:01,640 Speaker 1: this country last year, in spite of having just so 330 00:20:01,680 --> 00:20:05,240 Speaker 1: many challenges coming at all of us. That one it 331 00:20:05,320 --> 00:20:08,600 Speaker 1: was a rapid buyer of problems, and Job Creator's Network 332 00:20:08,840 --> 00:20:12,760 Speaker 1: was very involved in providing inputs to Treasury and Secretary 333 00:20:12,760 --> 00:20:17,119 Speaker 1: immunition on the PPP what small businesses needed, and we 334 00:20:17,119 --> 00:20:21,600 Speaker 1: were advocating very strongly again for those loans to be 335 00:20:21,760 --> 00:20:24,520 Speaker 1: executed at the local level through the local banks, because 336 00:20:24,600 --> 00:20:27,840 Speaker 1: we knew the SBA couldn't handle that kind of volume. 337 00:20:28,600 --> 00:20:31,640 Speaker 1: I was living in Italy when the Soul broke out, 338 00:20:31,680 --> 00:20:34,639 Speaker 1: and I saw how gigantic the impact was in the 339 00:20:34,680 --> 00:20:38,520 Speaker 1: Italian economy, and I wrote a newsletter of University sixth 340 00:20:39,040 --> 00:20:42,399 Speaker 1: in which I said, whatever Washington is thinking, they should 341 00:20:42,400 --> 00:20:45,320 Speaker 1: triple it, because it's going to be a much bigger 342 00:20:45,320 --> 00:20:48,840 Speaker 1: and much harder problem than anybody is prepared for. And 343 00:20:48,920 --> 00:20:52,359 Speaker 1: I think that I'm totally that had some effect on 344 00:20:52,560 --> 00:20:55,359 Speaker 1: having them go to scale when they were really thinking 345 00:20:55,359 --> 00:20:58,720 Speaker 1: about sort of minimum sized steps and they suddenly realized, 346 00:20:58,720 --> 00:21:01,440 Speaker 1: you know, we had better try to drown, because otherwise 347 00:21:01,480 --> 00:21:04,479 Speaker 1: it's just going to collapse. I'm curious, because you all 348 00:21:04,520 --> 00:21:07,679 Speaker 1: are so close to businesses and the jobs traitors not workers. 349 00:21:07,680 --> 00:21:10,480 Speaker 1: Not such a good job advocating for small business. What 350 00:21:10,600 --> 00:21:15,160 Speaker 1: are some of the personal examples that you're heading from 351 00:21:15,359 --> 00:21:18,800 Speaker 1: business owners about their own concern about survival over the 352 00:21:18,840 --> 00:21:23,080 Speaker 1: next six to nine months until the vaccine becomes widespread. Yeah. 353 00:21:23,119 --> 00:21:26,480 Speaker 1: So we have a member named John Nagel in New 354 00:21:26,560 --> 00:21:30,560 Speaker 1: Jersey who actually has a couple of businesses. He's been 355 00:21:30,600 --> 00:21:33,800 Speaker 1: a restaurant tour it almost his entire adult life. He 356 00:21:33,920 --> 00:21:37,920 Speaker 1: also owns a party shop and a dry cleaners, and 357 00:21:38,240 --> 00:21:41,720 Speaker 1: when the lockdown began in New Jersey, his family really 358 00:21:41,760 --> 00:21:44,440 Speaker 1: went into how can we help people? And so they 359 00:21:44,480 --> 00:21:49,439 Speaker 1: were providing meals to hospital workers every Tuesday. They provided 360 00:21:49,480 --> 00:21:52,280 Speaker 1: a hundred meals to workers, and by the end of 361 00:21:52,400 --> 00:21:55,960 Speaker 1: May in Jersey they were actually told please don't bring 362 00:21:56,000 --> 00:21:58,520 Speaker 1: any more food because there's not enough staff in our 363 00:21:58,560 --> 00:22:02,480 Speaker 1: hospitals to eat the food being donated. And so he thought, oh, well, 364 00:22:02,520 --> 00:22:05,400 Speaker 1: maybe that means that we're going to open soon. And 365 00:22:05,480 --> 00:22:07,800 Speaker 1: so during that time, you know, he was waiting and 366 00:22:07,840 --> 00:22:10,840 Speaker 1: waiting and the new Jersey governor kept things closed down 367 00:22:11,320 --> 00:22:13,840 Speaker 1: and trying to survive as much as possible. So he 368 00:22:13,960 --> 00:22:17,600 Speaker 1: spent tens of thousands of dollars to rent a large 369 00:22:17,640 --> 00:22:21,879 Speaker 1: tent to do outside events that is, catering restaurants. He 370 00:22:21,920 --> 00:22:24,280 Speaker 1: had to design an outdoor space, he had to supply 371 00:22:24,400 --> 00:22:30,040 Speaker 1: the ppe, I mean significant monetary investment to really continue 372 00:22:30,040 --> 00:22:33,800 Speaker 1: his business but be COVID safe. As the summer and 373 00:22:33,840 --> 00:22:37,280 Speaker 1: months went on, this tent costs seven thousand dollars a month. 374 00:22:37,400 --> 00:22:41,200 Speaker 1: But the dry cleaning business started to go under because 375 00:22:41,359 --> 00:22:43,720 Speaker 1: people are working from home. I mean, I haven't done 376 00:22:43,720 --> 00:22:46,400 Speaker 1: a lot of dry cleaning myself, so I can't imagine 377 00:22:47,040 --> 00:22:50,480 Speaker 1: cities like that. Fortunately, his party store has done well 378 00:22:51,080 --> 00:22:54,239 Speaker 1: because people are doing somebody drive by event. People are 379 00:22:54,280 --> 00:22:57,080 Speaker 1: doing drive by graduations and drive by birthday parties and 380 00:22:57,160 --> 00:22:59,520 Speaker 1: things like that. So his party store has actually done well. 381 00:23:00,200 --> 00:23:03,480 Speaker 1: But when he looked at his restaurant business, he literally 382 00:23:03,520 --> 00:23:06,439 Speaker 1: was supposed to do two hundred and fifty parties in 383 00:23:06,480 --> 00:23:09,160 Speaker 1: the final months of the year. Last year he had 384 00:23:09,200 --> 00:23:13,960 Speaker 1: six because of COVID and the shutdowns six absolutely devastating. 385 00:23:14,400 --> 00:23:16,959 Speaker 1: On the flip side, we have an eye doctor in 386 00:23:17,040 --> 00:23:21,560 Speaker 1: West Virginia who has seven offices, seven doctors, and forty 387 00:23:21,600 --> 00:23:25,520 Speaker 1: employees and as a thriving practice. He had to close 388 00:23:25,600 --> 00:23:30,440 Speaker 1: down for the statewide shutdown, and he received a PPP 389 00:23:30,680 --> 00:23:33,760 Speaker 1: loan on April sixteenth, which gave him a financial safety 390 00:23:33,760 --> 00:23:36,800 Speaker 1: net to keep his employees paid and he was able 391 00:23:36,840 --> 00:23:40,080 Speaker 1: to open back up in early May. His sales are 392 00:23:40,119 --> 00:23:43,480 Speaker 1: back up to around ninety percent of what they normally were, 393 00:23:43,960 --> 00:23:47,320 Speaker 1: and he's cautiously optimistic that the worst of this has passed. 394 00:23:47,600 --> 00:23:49,600 Speaker 1: Almost all of his workers are back on the job 395 00:23:49,640 --> 00:23:53,919 Speaker 1: thanks to the PPP. So we hear stories across the board, 396 00:23:54,119 --> 00:23:56,960 Speaker 1: whether it's restaurants and hotels who hear the worst stories 397 00:23:57,240 --> 00:24:00,119 Speaker 1: other businesses like an eye doctor, he's done very well. 398 00:24:00,119 --> 00:24:03,080 Speaker 1: The PPP was incredibly successful for him. He actually went 399 00:24:03,119 --> 00:24:05,439 Speaker 1: to the White House and talked about his story at 400 00:24:05,440 --> 00:24:23,840 Speaker 1: an event shortly after he reopened. What's your sense of 401 00:24:24,560 --> 00:24:27,159 Speaker 1: once we come out of this, what will happen to 402 00:24:27,200 --> 00:24:32,080 Speaker 1: the entrepreneurial spirit of America? You know, I have the 403 00:24:32,160 --> 00:24:36,000 Speaker 1: utmost faith in the entrepreneurial spirit in America. I saw 404 00:24:36,560 --> 00:24:41,480 Speaker 1: members of ours make adjustments in their businesses. I saw 405 00:24:41,520 --> 00:24:45,760 Speaker 1: them make sacrifices in their businesses throughout this pandemic. And 406 00:24:45,880 --> 00:24:47,800 Speaker 1: some of them has come back and some will probably 407 00:24:47,800 --> 00:24:51,080 Speaker 1: never come back. But I still think that the entrepreneurial 408 00:24:51,119 --> 00:24:54,359 Speaker 1: spirit will drive this economy. It may take a little 409 00:24:54,359 --> 00:24:57,480 Speaker 1: bit longer, depending on what the policies of the Biden 410 00:24:57,480 --> 00:25:01,159 Speaker 1: administration end up being, but I just think there's no 411 00:25:01,200 --> 00:25:03,440 Speaker 1: stopping it, and I have so much faith in it. 412 00:25:03,480 --> 00:25:06,320 Speaker 1: From me in a perspective, do you sense that the 413 00:25:06,359 --> 00:25:10,359 Speaker 1: Biden administration will help the recovery of the entrepreneurial spirit 414 00:25:10,440 --> 00:25:13,400 Speaker 1: or will postpone it. And there's so many stone undermine 415 00:25:14,280 --> 00:25:18,320 Speaker 1: the policies that we have seen in this first week. 416 00:25:19,160 --> 00:25:23,199 Speaker 1: If there was an award for the most jobs eliminated 417 00:25:24,080 --> 00:25:28,040 Speaker 1: in the first week of any presidential administration, Joe Biden 418 00:25:28,080 --> 00:25:30,600 Speaker 1: would win it hands down. I mean, when you think 419 00:25:30,640 --> 00:25:34,440 Speaker 1: about canceling the Keystone Pipeline, when you think about rejoining 420 00:25:34,480 --> 00:25:38,080 Speaker 1: the Paris Accord, and then also the fifteen dollars an 421 00:25:38,080 --> 00:25:41,080 Speaker 1: hour minimum wage that's being pushed. If you add just 422 00:25:41,119 --> 00:25:45,960 Speaker 1: those jobs up, the potential eliminated job number is about 423 00:25:45,960 --> 00:25:50,280 Speaker 1: ten million. Jobs. So that hurts workers, that hurts small business, 424 00:25:50,520 --> 00:25:53,720 Speaker 1: it hurts our economy, and it doesn't make any sense 425 00:25:54,000 --> 00:25:57,040 Speaker 1: that you would look at how to kill jobs when 426 00:25:57,400 --> 00:26:00,600 Speaker 1: we have eleven million people still unemployed from the pandemic. 427 00:26:01,359 --> 00:26:03,720 Speaker 1: I think that's really an important part of it. You know, 428 00:26:03,800 --> 00:26:07,120 Speaker 1: Biden uses the words many talks about made in America, 429 00:26:07,200 --> 00:26:09,800 Speaker 1: and he talks about us being unified, but my sense 430 00:26:10,040 --> 00:26:13,320 Speaker 1: is that he doesn't quite mean it. Certainly is not 431 00:26:13,440 --> 00:26:16,800 Speaker 1: made in America if you kill the XL pipeline, because 432 00:26:17,280 --> 00:26:20,080 Speaker 1: that means you're telling the Canadians the other go ahead 433 00:26:20,080 --> 00:26:23,000 Speaker 1: and shift the pipeline to the Pacific and sell the 434 00:26:23,040 --> 00:26:25,640 Speaker 1: oil of China. I just look at item after item 435 00:26:25,640 --> 00:26:28,960 Speaker 1: where Biden talks made in America but is actually helping 436 00:26:29,000 --> 00:26:32,720 Speaker 1: other countries. It's going to be a huge difference between 437 00:26:32,760 --> 00:26:38,000 Speaker 1: the Trump approach to emphasizing entrepreneurs and American productivity and 438 00:26:38,160 --> 00:26:41,320 Speaker 1: the Biden approach. In fact, John Cherry and one other 439 00:26:41,480 --> 00:26:44,920 Speaker 1: person in the Biden team said a lot of jobs 440 00:26:44,920 --> 00:26:47,359 Speaker 1: are going to be killed to meet our climate goals, 441 00:26:47,400 --> 00:26:50,040 Speaker 1: but you just have to do it anyway, and that 442 00:26:50,200 --> 00:26:52,879 Speaker 1: was sort of setting out a job killing approach. There 443 00:26:52,960 --> 00:26:57,160 Speaker 1: was the literal opposite of Trump's approach when he left 444 00:26:57,160 --> 00:27:01,280 Speaker 1: the Paris Accord because it was a uniquely anti American accord, 445 00:27:01,560 --> 00:27:05,600 Speaker 1: and even carry apparently is it but yesterday that if 446 00:27:05,640 --> 00:27:09,720 Speaker 1: the US got to totally zero impact, it really wouldn't 447 00:27:09,760 --> 00:27:12,680 Speaker 1: change the world pattern because so much of the problem 448 00:27:12,800 --> 00:27:16,159 Speaker 1: is China, India and other countries, and we're such a 449 00:27:16,200 --> 00:27:19,080 Speaker 1: small part of it now. But it would kill thousands 450 00:27:19,119 --> 00:27:21,639 Speaker 1: of American jobs trying to do it. You know, as 451 00:27:21,640 --> 00:27:25,200 Speaker 1: long as you're rich enough, or you're inside the government bureaucracy, 452 00:27:25,720 --> 00:27:28,080 Speaker 1: you can sort of cheerfully talk about killing jobs on 453 00:27:28,119 --> 00:27:32,639 Speaker 1: top of an economy where the pandemic has already killed jobs. 454 00:27:32,920 --> 00:27:35,919 Speaker 1: Doesn't that worry you about what's potentially going to happen. 455 00:27:36,760 --> 00:27:39,600 Speaker 1: Neither are people who are in the government now who 456 00:27:39,640 --> 00:27:43,560 Speaker 1: have never signed the front of a paycheck and don't understand. 457 00:27:43,760 --> 00:27:47,800 Speaker 1: And frankly, all of these government officials who have implemented 458 00:27:48,040 --> 00:27:52,919 Speaker 1: these shutdowns and are talking about job killing measures and 459 00:27:53,359 --> 00:27:57,800 Speaker 1: President Biden signing job killing executive orders, they all get paid. 460 00:27:58,640 --> 00:28:02,000 Speaker 1: I mean, they all get paid. No matter what shut 461 00:28:02,040 --> 00:28:05,560 Speaker 1: down job losses. None of them will ever lose a 462 00:28:05,640 --> 00:28:08,879 Speaker 1: paycheck because they're paid by the American taxpayer. It doesn't 463 00:28:08,920 --> 00:28:12,680 Speaker 1: bother them to kill eleven thousand direct jobs on the 464 00:28:12,760 --> 00:28:16,760 Speaker 1: Keystone pipeline, which frankly is not anything that is going 465 00:28:16,840 --> 00:28:20,159 Speaker 1: to improve the co two. The oil is still going 466 00:28:20,200 --> 00:28:22,439 Speaker 1: to come. It's just going to come by rail or truck, 467 00:28:23,000 --> 00:28:25,840 Speaker 1: and frankly, it's not as efficient and the potential for 468 00:28:26,320 --> 00:28:30,679 Speaker 1: environmental problems on rail and truck are probably greater. And again, 469 00:28:31,119 --> 00:28:34,080 Speaker 1: the job soloss good paying union jobs. The head of 470 00:28:34,080 --> 00:28:37,919 Speaker 1: the pipe fitter union strongly endorsed President Biden when he 471 00:28:37,960 --> 00:28:40,760 Speaker 1: was running for office, in spite of the fact that 472 00:28:40,800 --> 00:28:43,800 Speaker 1: he promised from the beginning he's going to kill this program. 473 00:28:44,120 --> 00:28:46,080 Speaker 1: So the guy who should lose his job first on 474 00:28:46,280 --> 00:28:49,600 Speaker 1: his program is ahead of the pipe fitter union. It's amazing. 475 00:28:49,880 --> 00:28:51,840 Speaker 1: Let me answer, because we're going to be in the 476 00:28:51,840 --> 00:28:53,800 Speaker 1: middle of this for a good long time. If a 477 00:28:53,840 --> 00:28:57,280 Speaker 1: business owner wanted to get involved with the Job Cuitors 478 00:28:57,320 --> 00:29:01,040 Speaker 1: Network and wanted to play a role in policy, how 479 00:29:01,040 --> 00:29:03,480 Speaker 1: would they go about them. They can go to Job 480 00:29:03,520 --> 00:29:06,880 Speaker 1: Creators Network dot com and join the organization, and there's 481 00:29:06,880 --> 00:29:09,200 Speaker 1: two ways to join. You can join as a member. 482 00:29:09,480 --> 00:29:12,440 Speaker 1: You're part of all of our alerts and our newsletters, 483 00:29:12,480 --> 00:29:14,120 Speaker 1: and you can see all of the things that we're 484 00:29:14,120 --> 00:29:17,440 Speaker 1: doing for small businesses and advocating on their behalf. We 485 00:29:17,520 --> 00:29:21,040 Speaker 1: also have an educational program called Employer to Employee Education, 486 00:29:21,440 --> 00:29:25,080 Speaker 1: which provides materials for employers to share with their employees. 487 00:29:25,240 --> 00:29:30,040 Speaker 1: Their nonpartisan, but they help explain how government policies impact 488 00:29:30,120 --> 00:29:33,440 Speaker 1: their jobs. And again they're not political, it's really about 489 00:29:33,480 --> 00:29:37,520 Speaker 1: their paychecks. The other way that somebody could join is 490 00:29:37,520 --> 00:29:40,160 Speaker 1: what I call an advocate, and if that's a small 491 00:29:40,200 --> 00:29:44,360 Speaker 1: businessperson who wants to really engage and be part of 492 00:29:44,360 --> 00:29:47,880 Speaker 1: the conversation, we then work with them on helping get 493 00:29:47,880 --> 00:29:51,160 Speaker 1: them out in the media and talk about personally how 494 00:29:51,160 --> 00:29:54,480 Speaker 1: these policies are impacting them. And going forward under this 495 00:29:54,600 --> 00:29:57,920 Speaker 1: administration with the kinds of policies that we're staring at, 496 00:29:58,000 --> 00:30:03,880 Speaker 1: from massive tax increasing, regulatory increases, and just anti business 497 00:30:04,080 --> 00:30:07,800 Speaker 1: policies coming at small businesses, the more voices that we 498 00:30:07,880 --> 00:30:12,200 Speaker 1: can get out there speaking firsthand about what these impacts are, 499 00:30:12,480 --> 00:30:15,960 Speaker 1: the more influence that we're going to have in changing 500 00:30:16,000 --> 00:30:19,840 Speaker 1: the trajectory of these policies. I know from my on 501 00:30:19,920 --> 00:30:23,720 Speaker 1: experience that the Job Creators Network has been very effective 502 00:30:24,280 --> 00:30:29,000 Speaker 1: in really helping shape awareness and helping shape policy and 503 00:30:29,000 --> 00:30:34,480 Speaker 1: helping pass some very key legislation. Your interventions are Treasury 504 00:30:35,080 --> 00:30:38,760 Speaker 1: helping them understand what their bureaucratic rules were going to 505 00:30:38,840 --> 00:30:42,520 Speaker 1: do to real entrepreneurs and small businesses. You all played 506 00:30:42,520 --> 00:30:46,000 Speaker 1: a huge role in getting the program to be more 507 00:30:46,040 --> 00:30:50,160 Speaker 1: practical and more effective and more implementable. So in essence, 508 00:30:50,200 --> 00:30:54,000 Speaker 1: I really recommend the Job Creators Network and the Job 509 00:30:54,040 --> 00:30:58,560 Speaker 1: Creators Network Foundation that you had as places where small 510 00:30:58,600 --> 00:31:03,280 Speaker 1: businesses can have a really big, profound impact. And I 511 00:31:03,360 --> 00:31:06,040 Speaker 1: want to thank you, and I know how busy you 512 00:31:06,080 --> 00:31:08,400 Speaker 1: are doing all this, and I want all of our 513 00:31:08,400 --> 00:31:11,720 Speaker 1: listeners to know that they can read more about small 514 00:31:11,760 --> 00:31:14,720 Speaker 1: Business in America and the second round of the Paycheck 515 00:31:14,760 --> 00:31:18,600 Speaker 1: Protection program on our show page at Newtsworld dot com, 516 00:31:18,640 --> 00:31:21,160 Speaker 1: and that we're gonna have a link right there so 517 00:31:21,240 --> 00:31:24,440 Speaker 1: they can go directly from our show page to the 518 00:31:24,560 --> 00:31:27,640 Speaker 1: Job Creators Network to get more involved. You really I 519 00:31:27,640 --> 00:31:31,200 Speaker 1: think of help today folks have a better understanding of 520 00:31:31,240 --> 00:31:35,200 Speaker 1: the challenges to small business in this economy and with 521 00:31:35,240 --> 00:31:40,400 Speaker 1: this new administration. Thank you so much. News, Thank you 522 00:31:40,480 --> 00:31:43,520 Speaker 1: to my guest Elaine Parker. You can read more about 523 00:31:43,560 --> 00:31:46,360 Speaker 1: small Business in America and the second round of the 524 00:31:46,400 --> 00:31:51,640 Speaker 1: Paycheck protection program on our show page at newtsworld dot com. 525 00:31:51,800 --> 00:31:56,120 Speaker 1: Newtsworld is produced by Ganglish three sixty and iHeartMedia. Our 526 00:31:56,160 --> 00:32:00,480 Speaker 1: executive producer is Debbie Myers, our producer has Gard Sloan, 527 00:32:00,920 --> 00:32:04,760 Speaker 1: and our researcher is Rachel Peterson. The artwork for the 528 00:32:04,760 --> 00:32:08,719 Speaker 1: show was created by Steve Penny. Special thanks to the 529 00:32:08,720 --> 00:32:12,720 Speaker 1: team at Gingerish three sixty. If you've been enjoying news World, 530 00:32:13,000 --> 00:32:15,880 Speaker 1: I hope you'll go to Apple Podcasting and both read 531 00:32:15,960 --> 00:32:19,160 Speaker 1: us with five stars and give us a review so 532 00:32:19,280 --> 00:32:22,840 Speaker 1: others can learn what it's all about. Right now, listeners 533 00:32:22,880 --> 00:32:26,000 Speaker 1: of Newtsworld can sign up for my three free weekly 534 00:32:26,040 --> 00:32:31,440 Speaker 1: columns at Gingerish three sixty dot com slash newsletter. I'm 535 00:32:31,520 --> 00:32:33,640 Speaker 1: new Gingrich. This is newt World.